"HSBC dropped from silver price-fixing lawsuit" Reuters
http://uk.reuters.com/article/2011/09/14/uk-silver-pricefixing-lawsuit-idUKTRE78D7NH20110914 Well the headline is a lie. Actually it's a blatant lie.The crux of the matter is;
"Investors had in at least 43 complaints filed in 2010 and 2011 accused banks of amassing hundreds of millions of dollars in illegal profit by manipulating prices of COMEX silver futures and options contracts, including by amassing huge short positions.
While these lawsuits were later combined, an amended complaint filed on Wednesday in the U.S. District Court in Manhattan dropped HSBC as a defendant, saying the bank had entered a "tolling agreement" with the plaintiffs."
The Reuters headline says HSBC has been dropped from the lawsuit. I beg to differ. "Tolling agreement"does not mean you are off the hook. It simply means both parties are in negotiation. A tolling agreement benefits the Plaintiff by not letting the statute of limitations run out. It benefits the Defendant only if they are in negotiations. It will be interesting to see if HSBC throws JPM under the bus or if they settle without admitting guilt. I wonder if Bart Chilton had anything to do with this? or is this how they are going to shut him up for another six months or so.
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